MacKenzie Sigalos. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Notifications can be turned off anytime in the browser settings. State Sen. Kelly Hancock and state Rep. Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. Prior to becoming President and CEO of the New York ISO, Brad served as Senior Vice President and Chief Operations Officer for the Electric Reliability Council of Texas. Your subscription will be migrated over. FORTUNE may receive compensation for some links to products and services on this website. Greg Abbott. His work examines the institutions and policies affecting millions of students and families across Texas, with a focus on Houston home to the largest school district in the state. The interim CEO of the Electric Reliability Council of Texas (ERCOT) has publicly revealed hes pro-Bitcoin. Vice President and Chief Financial Officer. Send a letter to the editor and you just might get published. He currently resides in Lansing. AUSTIN, TX On April 27, the ERCOT Board of Directors announced their selection of Brad Jones as the new interim President and CEO, effective May 4, 2021. The development of those rules was really done by a broad group of diverse participants in the marketplace, including consumers, Jones said. His exit comes days after the head of the states utility regulator stepped down after receiving withering criticism by state lawmakers during hearings last week. While Jones was in New York, Gov. Betty Day was named Vice President of Security & Compliance and Chief Compliance Officer in 2019 after serving in various executive roles since 2011. This op-ed is part of a series published by The Dallas Morning News Opinion section to explore ideas and policies for strengthening electric reliability. However, Magness has told Ercots board he wont seek or accept a severance, according to a statement. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. He didnt immediately respond to a LinkedIn message. Chad V. Seely is Senior Vice President, General Counsel, and Corporate Secretary for ERCOT and has been serving as General Counsel since January 1, 2016. See here for a complete list of exchanges and delays. Were bringing on more reserves in various situations where we see cold fronts come through, bringing on board reserves, and keeping those reserves on to make sure that if something unexpected happens, that we have those reserves available, Jones said. He is a licensed CPA in Texas and New York and a Chartered Financial Analyst Charterholder. Earlier this month, ERCOT reported more than 300 inspections of power generating facilities, which take natural gas supply and other power sources and turn it into electricity for the grid. During her tenure at ERCOT,she has served in various roles focused on developing relationships both internal and external to the organization. He has a long history of service in both the electric and gas industries. In an effort to rebuild trust following the near-collapse of Texas power grid during last Februarys winter storm, Jones has traveled across the state to hold listening sessions everywhere from Odessa to Frisco. Only three facilities this year failed to meet ERCOTs expectations for winter preparations, Jones told the town hall audience. Read more about our editorial independence policyhere. Powered and implemented by Interactive Data Managed Solutions. The Electric Reliability Council of Texas (ERCOT) board has selected a new CEO and president. All rights reserved. Prior to CI, Hannah served as associate editor of The Houstonian, interned with Community Impact Newspaper and spent time writing for the Sam Houston State University College of Fine Arts and Mass Communication and The Huntsville Item. For example, power plants were weatherized this winter, but for the ice storm of 2011, he said. The new ERCOT CEO wants to rebuild your trust in the Texas electricity grid Brad Jones expects to present a 100-day plan within a month. RELATED: Terminated ERCOT CEO says he won't seek or accept severance pay. LinkedIn has officially entered its cringe era, and its working. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. "Over the next few weeks, I will be meeting with ERCOT staff, elected officials and leaders of various state agencies and developing a 100-day strategic plan to present to state officials and the public. Jeyant Tamby serves as ERCOTs Chief Administrative Officer and Chief of Staff. The Texas Legislature is considering bills to allow ERCOT to securitize the IOUs, and Jones acknowledged that could put the grid operator in the unusual position of issuing bonds. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. She is a former opinion editor on the editorial board and energy reporter for the business section. Mr. Woodfin has over 30 years of experience in the electric power industry, including leadership positions in both system planning and system operations for ERCOT. According to the release, Brandt will be assisted by fellow Texan Brad Jones, who previously served as chief operations officer of ERCOT. If we were part of a federally regulated system, wed probably still be asking for permission to do some of the things weve already implemented in place for this winter.. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. First, he said, ERCOT needs stabilizing, the company itself and the market participants. Brad Jones will fill the role in an interim capacity in early May. Get smart opinions on the topics North Texans care about. The so-called passport program will increase the reliability of renewable energy through battery storage, among other initiatives. He graduated from Boston University in 1987 with a BA in international relations. Join others and make your gift to Houston Public Media today. April 27, 2021 Updated: April 27, 2021 6:24 p.m. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. From 2013 until 2018, Mr. gelman served on the Gulf Coast Power Associations (GCPA) Board of Directors, including presiding as Vice President in 2014 and President in 2015. His previous experience within ERCOT includes serving as Chief of Staff and as Interim Chief Operating Officer. When industry insiders were creating the first protocols for the Texas grid operator, veteran energy executive Brad Jones was at the table. Fri, Mar 18 2022 6:26 PM EDT. The plan will put ERCOT on a solid foundation for providing reliable electric service year-round," Jones said in part. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's Mr. Black began his career in 1990 as a legislative assistant for Representative Tom Craddick in the Texas House of Representatives and later worked for two Texas State Senators. Magness has maintained that ERCOT performed well during the energy crisis, and that the Public Utility Commission and state legislature hold most of the power when it comes to mandating grid resiliency. Prior to ERCOT, Mr. Vegas was Executive Vice President of NiSource, and Group President of NiSource Utilities, where he oversaw NiSources electric and gas business segments and championed outstanding service to NiSource customers. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. Jones has also Dan Woodfin is ERCOTs Vice President of System Operations. At that rate, ERCOT might finally be finished paying for this years outages by the end of the century. Terms & Conditions. Board members voted 6-1, with two abstaining, in favor of serving Magness with his notice. Magness is leaving the Electric Reliability Council of Texas after the board voted to terminate his employment and gave him a 60-day term notice, according to a notice to Ercot staff and contractors seen by Bloomberg News. ERCOTs previous chief executive was fired following the storm, and every commissioner serving on the Public Utility Commission resigned as well, Jones said. He will lead the grid operator past the February outage crisis and into the crucial summer months at a time when the economy is reawakening and more people are moving to Texas, bumping up demand for electricity. Unlike other states, which are connected to power grids on either the western or eastern side of the country, electricity in Texas is generated and used only within state lines. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. As Vice President of System Planning and Weatherization, Woody Rickerson oversees transmission planning, generator interconnection activities, training, and electric grid operations for the ERCOT region. He is a member of the Board of Directors of the North American Transmission Forum and has served on various committees of NERC. The Texas Public Utility Commission chair followed suit March 1. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. DETAILS BELOW. He is currently responsible for the strategic vision, planning, and leadership of the Finance, Human Resources, Enterprise Architecture, Market Rules and Stakeholder Support, Project Management, Strategic Planning, Enterprise Risk Management, Portfolio Management, and Business Continuity functions. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO. Generators, the grid operator and politicians have clashed over who is to blame, pointing fingers at power plants that didnt prepare for winter, Texass highly deregulated power market, frozen natural gas wells and issues with the grid itself. She joined ERCOT in 2015 as Director of Total Rewards and Systems and was responsible for the companys compensation, benefits, human resources systems, and corporate payroll. In a press release, ERCOT said Jones will serve in the position for up to a year while the board searches for a permanent replacement. ERCOT said in a release that Jones has over 30 years of experience in the energy sector and held positions with ERCOT from April 2013 to October 2015, including senior vice president and chief operating officer. See here for a complete list of exchanges and delays. August 8, 2022 Executive Employment Agreement. 4:45 PM Mar 11, 2021 CST Mr. Taylor has more than 20 years of finance experience in various roles. Jones will assist Adrianne Brandt, the agencys new director, in her new role. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. The board gave Bill Magness a 60-day termination notice at the beginning of March. It should give you great confidence that were managing this grid in a much more reliable way.. According to his LinkedIn page, he left for retirement after three years. And he said an important component of better communications is better relationships with the Public Utility Commission, the Texas Division of Emergency Management, the Railroad Commission, which regulates production of natural gas often used in power generation, and others. Prior to joining ERCOT, she worked in hi-tech and healthcare industries. Elizabeth Souder is commentary and Sunday Opinion editor and a member of the editorial board. Senior Vice President and Chief Administrative Officer, Chief of Staff. April 27 (Reuters) - Brad Jones has been elected interim president and chief executive officer of the Texas grid operator ERCOT, its board said on Tuesday, filling the gap left by the previous CEO who was ousted in the wake of a deadly blackout in February. The Texas legislature oversees all of the organizations, and its efforts to mandate weatherization have stalled. Novavax Inc's shares plunged 28% in U.S. early trading on Wednesday, a day after the COVID-19 vaccine maker raised doubts about its ability to remain in business. What I intend to do here at ERCOT is the very same thing, Jones said of his experience in New York. Brad Jones will fill the role in an interim capacity in early May. If Ercot cannot come up with financing to cover the underpayments, the debt could end up being shared by everyone in the Texas market, including consumers. ERCOT, still reeling from criticism over its handling of the record winter freeze, announced last week that it hired Jones, 58, as interim chief executive for up to one year as the company conducts a search for a permanent leader. Before joining AEP, Mr. Black served as Texas Governor Rick Perrys Press Secretary and Communications Director from 2003-2008, and also worked as a Senior Communications Advisor for Greg Abbott during his 2002 and 2014 campaigns, respectively. He didnt immediately respond to a LinkedIn message. This article was originally published byFort Worth Report. This years storm was far worse, and ERCOT needs to look at weatherization planning. The generators did a fantastic job of getting ready for this, and were seeing that today, Jones said. The states utilities cant expect a once-in-100-year storm every year, but ERCOT must ensure its ready for the next one, Jones said. On one hand, there have been six times in the past year that using RUCs have enabled the operator to avoid declaring grid emergencies. Mr. Seely grew up in Irving, Texas, and received Bachelor of Arts degrees in Political Science and French from Texas Tech University in 1999. WebPublic Utility Commission of Texas 1701 N. Congress, P.O. He released a statement following the announcement on Tuesday, saying he would "work to restore ERCOT's reputation as that reliable and trustworthy driver of our grid and the economy.". He also previously served as the Vice President for Grid Control at Omnetric Group, which was formed as a joint venture between Siemens and Accenture to drive IT/OT convergence in the power industry. There were a lot of channels, and we simply werent doing a good job, he said of the companys communications efforts during the freeze. ERCOT Verified account @ERCOT_ISO. She has over 20 years of experience in the electric industry. Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Greta Thunberg detained by Norway police during pro-Sami protest, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, Western US cities vote to move ahead with novel nuclear power plant, Concerns about prospects of COVID vaccine maker Novavax sink shares, How Elon Musk has missed his targets on delivering affordable cars, Chevron CEO does not rule out consolidation among oil majors, Rivian shares fall as supply chain snarls hamper production forecast, Oil slips as rising supplies balance Chinese demand hopes, Exclusive news, data and analytics for financial market professionals, EU should relax criteria for energy aid, says German government paper. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Jones will serve beginning May 4. Magness hasdefendedthe grid operators decision to call for the largest forced poweroutagein U.S. history, saying Texas came within seconds and minutes of catastrophic grid failures. To View The Rest of This Article Please Visit kvue.com This caused some friction with the governors office, and Jones soon returned to Texas. He replaces Brad Jones, who led the organization as its interim-CEO following the February 2021 winter storm, when Texans across the state lost power and hundreds of people died. Mr. Seely also oversees the ERCOT Reliability Monitor function which assesses ERCOT and ERCOT Market Participant compliance with Texas electric reliability laws under the direction of the Public Utility Commission of Texas. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. That included more inspections and assurances from power companies that they were adequately preparing their facilities for winter weather. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Industry veteran Brad Jones is taking over as interim president and CEO of the Prior to joining ERCOT, he served as Principal Key Expert for Grid Control at Siemens Digital Grid, specializing in delivering high-risk, complex projects working with both the product and delivery organization at Siemens. Previously, Brad was a Director, Information Technol Read More Brad Jones, ERCOT's interim CEO, in a statement said he "welcomes these highly qualified leaders, their expertise and insights into our relentless pursuit of grid reliability." Jones most recent job was chief executive of the New York Independent System Operator, which, similar to ERCOT, operates the New York state electrical grid. All quotes delayed a minimum of 15 minutes. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. Prior to joining ERCOT, Mr. Seely was an attorney at the Texas Department of Insurance, working on enforcement matters against insurance agents and companies before the State Office of Administrative Hearings (SOAH) and the Commissioner of Insurance. Jones responded that meeting this goal would require an enormous investment in 1,000 miles of transmission lines, which could take many years to build. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. Those preparations can mean installing more insulation, building structures around facilities to protect equipment and using thermal blankets to keep equipment from freezing, he said. At this point, Jones said there are three components to his trust plan. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Why would a CEO in his 50s retire? Previously, Mr. gelman worked as a Senior Economist for the Texas Office of Public Utility Counsel, which represents residential electric consumers in Texas, from 1997 to 2007. Prior to working at LCRA, Mr. Taylor was a consultant performing mergers and acquisition advisory services at PricewaterhouseCoopers in New York City. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Vice President and Chief Information Officer. Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of events the individual appeared in, Senior Vice President and Chief Operations Officer. He brings the right combination of ERCOT knowledge and broad industry expertise needed to provide the stability and reliability that Texans expect and deserve.. If you value our commitment to the highest standards of responsible journalism and are able to do so, please consider making your gift of support today. March 11, 2021 / 3:16 PM / CBS DFW. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. He also leads advancements in generation and transmission planning to help meet long-term forecasting needs and ensures that the latest grid and technology changes are incorporated into models used by ERCOT for analysis. Jones should listen to a range of voices on improving reliability. Prior to joining ERCOT, she was with Central Maine Power as part of a core team to implement market deregulation in Maine. Dr. Tamby has a bachelors degree in electrical engineering from Anna University in India, and masters and doctorate degrees in electrical engineering from Queens University in Canada. Subsequently, he received an MA in economics from the University of Texas at Arlington in 1991 and an MA in Middle Eastern studies from the University of Texas at Austin in 1995. ERCOT doesnt have the power to mandate major changes. Prior to joining ERCOT in 2003, he led various generation and transmission planning activities at Central and Southwest Services, Reliant Energy, and West Texas Utilities. WebIf the problem persists, contact the ERCOT Service Desk at ServiceDesk@ercot.com or 1-866-870-8124. 05:24. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. Mr. gelman served as Chairman of the ERCOT Technical Advisory Committee from 2011 to 2013. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New There is no recent news or activity for this profile. All Rights Reserved. Jones did not address the litigation during the town hall. The unprecedented outages caused as much as $129 billion in economic losses. Other, larger grids are not necessarily immune to issues, Capriglione added, pointing to Californias Pacific Gas & Electric, which has been blamed for more than 30 wildfires and faced a number of criminal charges. 2005-2022 Community Impact Newspaper Co. All rights reserved. The Electric Reliability Council of Texas hired an old hand as its interim chief executive. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. read more. He said ERCOT and Brad Jones have roles to play as messengers, but that they alone cannot prevent another power failure. | Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender Brad Jones, the interim chief executive of the Electric Reliability Council of Texas, has been a busy man since taking over the troubled agency last May. Mr. Vegas currently serves on the board of directors at Northwest Bancshares, Inc. Mr. Vegas attended the Advanced Management Program at Harvard Business School, completed the AEP Strategic Leadership program at the Ohio State University, and graduated cum laude from the University of Michigan with a BS degree in mechanical engineering. He has over 35 years of experience in the electric energy industry. She was named Director of Enterprise Risk Management and Strategic Analysis in December 2013,where she focused on providing the leadership and management necessary to identify, evaluate, mitigate, and monitor the companys operational and strategic risk, leading ERCOTs strategic and business planning processes, and providing guidance for the ERCOT governance process, especially as it relates to Market Rules. Mr. Vegas had profit and loss accountability for NiSources six gas and electric utility companies as well as responsibility for strategy, planning, operations, construction, engineering, regulatory, environmental services, and federal government affairs for NiSource. Potomac Economics, which monitors the state's power market, said in March that ERCOT kept market prices too high for more than a day after widespread outages ended. He knows that all potential solutions building more plants, re-regulating the industry, fundamentally changing the market to favor more capacity, building more power lines also present serious challenges. Jones' appointment is effective May 4, and will last until the position is filled, up to a year, according to ERCOT. At least 111 Texans died as a result of the disaster, according to numbers released in March by the Department of State Health Services. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. Brad Jones, CEO of New York's main electric grid operator from October 2015 to October 2018, will start his tenure as the president and CEO of ERCOT on May 4, the agency said Tuesday. More than 400 Texans have filed 170 lawsuits against utility companies and ERCOT over the blackouts that killed hundreds of people over the course of a week. In this role, Mr. Woodfin leads Real-Time Operations, Operations Planning, Forecasting and Ancillary Services, Outage Coordination, and other engineering activities that support the reliable operation of the power system and promote efficient power markets. ERCOT is a council of experts and executives from across the energy spectrum, including power generators, electricity retailers, natural gas pipeline operators, big, corporate consumers, and academics. (This extreme rate was sustained by the Public Utility Commission for days to try to incentivize power plant owners to get their plants working and back online, and the high rate ended up pushing some retailers into bankruptcy.). Dr. Tamby has more than 25 years of experience in the electric power industry, including about 15 years in leadership roles. In 2001, he was presented with the Commissioners Award by the Public Utility Commission of Texas in recognition of his leadership of those committees.Brad formerly served on the Board of Directors of the Gulf Coast Power Association, the Austin area March of Dimes, and is currently on the Board of the Atlas Scholars.Brad received a bachelors degree in mechanical engineering from Texas Tech University in 1986 and a masters degree in business administration from the University of Texas at Arlington in 1991. Iconic German restaurant in Fort Worth closing doors after 56 years, Enough | Black MENtal Health: Shedding light on asking for help, finding community and resources, Thunderstorms develop in North Texas: Latest radar, timeline here. Jayapal Parakkuth has over 25 years of experience in successfully visualizing, designing, and implementing software solutions to various aspects of power system grid control. Brad Jones (born April 1, 1986) is famous for being football player. After so many angry Texans became armchair electricity experts on social media during the February freeze, this state could use some tethering to reality. Jones was elected to serve until the position has been permanently filled, up to a term of one year, effective May 4, the Electric Reliability Council of Texas board said in an emailed statement. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. Magness will continue to serve as CEO and work with state leaders and regulators on potential reforms while Ercots board conducts a search for a replacement, according to the notice to staff and contractors. He is a former board member of March of Dimes, Gulf Coast Power Association, Atlas Scholars, and St. Peters Health Partners. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. During the committee hearings held by state legislators last spring, Hancock said he was disturbed by the clear conflicts of interest on the Public Utility Commission, which regulates telecommunications, water and electric utilities across Texas. During his time at Siemens, he served as the Lead Architect for delivering mission-critical solutions to ISO/RTOs, like PJM and CAISO. While with NiSource, he was also chairman on the board of directors for One Columbus and a board of trustees member for the American Gas Foundation. He comes to the Bayou City after Let the Houston Public Media newsroom help you start your day. Mr. Taylor has a BBA from the University of Michigan. Ms. Spak graduated from Southwestern University with a BA in psychology. So far, 125 deaths across the state have been attributed to the storm and power outage. (Courtesy Public Utility Commission of Texas), Editor, Spring/Klein & Lake Houston/Humble/Kingwood. Senior Vice President, General Counsel and Corporate Secretary. They didnt meet the needs of either their customers or the state of Texas, and they faced penalties associated with that, financial penalties, Jones said. Here at ERCOT is the interim CEO of the board gave Bill Magness a 60-day termination notice at the of... 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Giovanni Capriglione also answered questions read by County Commissioner Gary Fickes University.
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